Tuesday, June 05, 2012

New Tampa Real estate market report for June 2012

© Russ Perlowski
Our local MLS reported 79 single family homes sold in New Tampa (zip code 33647) in May with an average reported sales price of $241,613.  73% of the homes sold in the month were "normal" sales.  Distressed sales made up 27% of the sales with Short Sales at 18% and Foreclosures at 9% of the total sales for the month.  41% of the single family homes that sold in New Tampa in May, sold at list price or above!

Currently, there are 142 single family short sale homes under contract in New Tampa.  Considering that only 14 short sale New Tampa single family home contracts closed in May and we have averaged less than 12 per month in 2012, I predict there are going to be a lot of unhappy short sale "buyers" who are currently under contract.

The good news is there are over 300 New Tampa single family homes listed for sale in our MLS and only 62 are short sales with list prices beginning at $114,000 and going up to over $2 million!

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